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/en/bank-og-finansmarked/statistikker/obligasjoner/kvartal
190262
Increase in debts due to issues abroad only
statistikk
2014-11-13T10:00:00.000Z
Banking and financial markets
en
obligasjoner, Debt securities, share issues, bonded debt, bonds, commercial paper debt, securities debtSecurities markets , Banking and financial markets
false
The statistics provide an overview of the bond and commercial paper market in Norway as well as an overview of bonds and commercial papers issued by Norwegian borrowers abroad.

Debt securities, Q3 2014

Variants of the statistics:

In May 2016, the Debt securities statistics were merged with the statistics for Securities registered with the Norwegian Central Securities Depository. The new merged statistics are known as the Securities statistics.

Content

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This is an archived release.

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Increase in debts due to issues abroad only

In the 3rd quarter of 2014, very few bonds were registered, particularly in relation to new commercial papers issued by Norwegian entities. Nevertheless, a large number of bond and commercial paper issues abroad over time has led to a growth in Norwegian entities’ outstanding bond and commercial paper debt.

Gross issues of bonds and short-term securities. Number of issues and nominal value of issues in NOK millionPublished 13 November 2014
Bonds issued in NorwayShort-term paper issued in NorwayDebt securities abroad
NumberAmountNumberAmountNumberAmount
 
September 201410432 26610735 82111883 458
August 20146622 59810421 0497432 893
July 20144016 967588 2447531 287
June 201410143 1989734 7588238 995
May 201410248 4618719 05210452 774
April 20147730 6878816 77710763 632
March 201410457 3638131 01714179 478
February 20149234 9598916 69613960 375
January 201411146 10710020 43414782 042
December 201311130 4937254 4586325 324
November 201310435 7138616 566111111 814
October 20138733 8958219 15714073 723
September 201310632 1139478 53915892 419

Source: Statistics Norway

In Norway, 210 issues of bonds and 269 issues of commercial papers valued at NOK 137 billion were registered during the 3rd quarter of 2014. Seven per cent of the value referred to issues by “Rest of the world”. The corresponding part of their issues in Norway in the 3rd quarter of 2013 was 4 per cent.

The major part of the volume of issues in Norway; NOK 72 billion, referred to bonds.

Compared to the 3rd quarter of 2013, the number of issues in Norway rose by 13 per cent, while the amount of issues was reduced by 22 per cent. In the same period, Norwegian entities also issued 267 bonds and commercial papers abroad, valued at NOK 148 billion. Compared to the 3rd quarter of 2013, the number and value of these issues were reduced by 41 per cent and 34 per cent respectively.

Reduction in issues by the general government in Norway

A considerable part of the volume of issues in Norway still refers to the general government, but their part of the volume was reduced from 67 per cent in the 3rd quarter of 2013 to 49 per cent in the 3rd quarter of 2014. This reduction was caused by the completion in June this year of rollovers/swap arrangements in which new treasury bills have replaced old treasury bills at their time of maturity. The second largest part of the issues - 28 per cent - referred to financial corporations, where the corresponding figure in the 3rd quarter of 2013 was 17 per cent. Sixteen per cent of the issues referred to non-financial corporations.

The major part of the volume of issues by Norwegian entities abroad, a total of 91 per cent, referred to financial corporations.

Reduction in domestic bond and commercial paper debts

The nominal value of outstanding bond and commercial paper debts referring to issues in Norway amounted to NOK 1 865 billion at the end of September 2014. This is a reduction of 0.5 per cent compared to the end of September 2013. The largest part of the debts, 43 per cent, referred to financial corporations. The second largest part of the debts, 28 per cent, referred to the general government. The average market value of the domestic bond debt was 2.8 per cent higher than the face value, while the market value of the domestic commercial paper debt was 0.4 per cent lower than the face value.

Eighty-six per cent of the outstanding bond and commercial paper debt from issues in Norway referred to Norwegian borrowers at the end of September 2014. At the same time, Norwegian entities’ outstanding bond and commercial paper debts abroad amounted to NOK 1 503 billion. As a result of this, Norwegian entities’ outstanding bond and commercial paper debts in Norway and abroad amounted to NOK 3 114 billion at the end of September 2014.

Growth in Norwegian entities’ outstanding debts in currencies other than NOK

A major part of such debt in Norway is raised in NOK, while Norwegian entities’ bond and short-term security debts abroad is raised in EUR, USD, JPY or other currencies to some extent. From September 2013 to September 2014, NOK depreciated particularly against the USD and GBP. This, as well as a moderate increase in issues, led to a 1 per cent growth in Norwegian entities’ outstanding bond and commercial paper debts in Norway and abroad.